With its most recent upgrade, decentralized exchange aggregator 1inch claims to have improved swap prices by up to 6.5%.
With the release of an update to its price route discovery algorithm, decentralized exchange (DEX) aggregator 1inch claims to have improved swap rates by up to 6.5%.
In a statement on June 10, 1inch asserts that its “Pathfinder” update improves swap rates while making them quicker and easier to use. The new algorithm promises better gas efficiency, which maximizes the utilization of focused liquidity and combines specific swap processes.
According to an official, the team is hopeful that the improvements in gas efficiency will lower the entry hurdle for individual investors. According to them, “This can promote more frequent usage and foster trust in DeFi platforms, making DeFi more accessible.”
According to 1inch, the decentralized application (DApp) now offers its customers improved visuals that provide insights into the execution of tokens and transactions, improving the user experience. The change, according to 1inch co-founder Sergej Kunz, “enables users and integrators to maximize the value of every trade” and reduce gas expenses.
1inch continues to grow.
The announcement comes after 1inch on Solana was introduced at the end of April. According to the developers, the integration allows users to exchange more than one million Solana-based tokens directly through 1inch.
The team also disclosed that it planned to provide cross-chain capability. This would allow switches between Solana and over ten additional networks that the aggregators now support. A spokesman did point out that the functionality does not yet have a set launch date.
The decentralized exchange aggregator is having a lot of luck. After reaching a bug bounty deal with the attacker, the platform effectively recovered the majority of the $5 million that had been stolen in a recent hack in early May.
Adopting a decentralized finance model
The decentralized exchange aggregator anticipates gaining a larger share of the decentralized finance (DeFi) market by making minor, steady improvements. “These features help 1inch outperform competitors in swap efficiency and gas savings,” a spokesman said.
“The decentralized exchange aggregator advantage is dynamic aggregation across ecosystems, which makes it more adaptable and appealing to users and integrators alike, as competitors concentrate on single-venue liquidity,” they continued.
